Featured image: Frédéric Dujeux and Xavier Laoureux, co-founders of Mozzeno. © Studio Dan
Peer-to-peer (P2P) lending platform Mozzeno has raised an additional €3m meant for bolstering it’s financial foundation and accelerating development. The Belgian based company raised the funds from existing and new shareholders.
Some of the shareholders who contributed to the current round of funding include the Wallonia Innovation and Growth investment fund and insurer Federale.
Frédéric Dujeux, a co-founder of Mozzeno explained the inspiration behind Federale’s contribution. According to Dujex:
“Federale is a mutual cooperative insurer, and that specific structure was what sealed the deal for Mozzeno. With this cooperation, we welcome a major new shareholder who brings in experience and solid credibility in both investment and lending businesses. Federale’s positioning is perfectly in line with Mozzeno’s collaborative model.”
On the other hand, Xavier Laoureux another Mozzeno co-founder talked about the company’s future in digital lending. According to Laoureux:
“Mozzeno is ready to step up as a major Belgian player in the area of digital lending. The newly raised funds will enable us to target an even greater audience. Now we can take serious steps to increase our brand awareness. In recent months we have significantly improved our IT systems and user experience. Borrowers applying for a credit on our platform can link their bank accounts, a development that will make it much easier for them to prove their income and expenses.”
Mozzeno launched in February 2017 and it allows private individuals to indirectly finance loans granted to other individuals and businesses. To date, Mozzeno has granted 2,000 loans worth €15 million.
P2P lending has been growing in popularity thanks to benefits such as convenience, more transparently, and diversified risks. Peer to peer lending companies were more concentrated in the US and UK but the trend is expanding to other European and Asian companies.